Budget 'balanced one', maintains fiscal prudence for medium-term: Bankers

Bank of India Managing Director A K Das said the budget is forward looking as it aims to revive demand and growth

Bankers said the Union Budget is a balanced one as it maintains fiscal prudence for the medium-term and also offers more capital spending to support the sagging growth.

The budget has pegged fiscal deficit at 3.8 per cent for the current fiscal and 3.5 per cent for the next, Finance Minister Nirmala Sitharaman said while presenting the first full budget of the Modi government's second term. Bankers said given the deepening slowdown, the move was much needed and it will boost government spending to support economic growth.

Welcoming the budget, State Bank of India (SBI) Chairman Rajnish Kumar said the proposals will